BUSINESSES could be asked not to refuse cash – when it is the customer’s only way of paying – if the government accepts new recommendations made by a panel of politicians.
The Economic and International Affairs Scrutiny Panel has published a report into its review exploring the acceptance of cash payments in Jersey, which was launched in June 2024 following political debate and growing public interest in the topic.
This interest was reflected by the large number of Islanders who contributed to the review, which garnered 136 written submissions from individuals, businesses and organisations as well as 2,696 responses to an anonymous five-minute survey.
The majority of businesses responding to the survey said that they were less likely to receive payment in cash, with 71% indicating they mostly received digital payments (via cards, transfers or smartphones) and 20% indicating that cash payments represented under 10% of their transactions.
However, 92% of businesses stated that they accepted both cash and digital payments, with 6% revealing that they only accepted digital payments.
In the foreword of the report, panel chair Deputy Montfort Tadier said: “Even though cash usage appears to be in steady decline, as other tap-and-pay methods become more widely preferred and used, cash continues to play an important part in Jersey life.
“The vast majority of those we heard from valued choice, and having the ability to pay for goods and services using cash, when they wanted to.”
Included within the report are several recommendations, including that the Economic Development Minister “should, by 30 April 2025, issue interim guidance to businesses indicating that they should accept a cash payment where it is the customer’s only way of paying”.
Last year, it emerged that the number of Jersey notes being ordered by local banks each year has fallen by over £200 million since 2014.
In a statement released alongside the report, the panel explained that it was “concerned that the continuing decline in the use of cash could impact Islanders”.
“The panel is therefore recommending that the minister issues guidance to businesses that they should not unreasonably refuse cash payments, and that differential pricing based on payment method should not take place,” the statement added.
“The panel has recommended that this should already be the case for public services including any third-party providers of public services such as transport.”
Other recommendations within the report include requiring banks to give six-months’ notice to both the government and customers before the closure of any branch or cash machines in the Island, as well as the creation of a government strategy and set policy about the acceptance of cash payments in Jersey.
